U.S. West Texas Intermediate (WTI) crude futures were down 3 cents, or 0.1%, at $42.16 a barrel at 0148 GMT, while Brent crude futures rose 6 cents to $45.23.
State-run Energy Efficiency Services Ltd (EESL) has cancelled Rs 500 crore contract placed on a China-backed PT Hexing as it failed to comply with the local content norms.
Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 82279.75 Crore) operating in Gas & Petroleum sector.
West Texas Intermediate oil was down 17 cents, or 0.4%, at $41.53 a barrel. The contract ended Tuesday trading 1.7% higher, its highest close since late July.
BP plunged into a net loss of $16.8 billion in the second quarter, the British oil giant announced Tuesday, as the coronavirus pandemic ravaged demand for oil, sending prices tumbling.
Denting fuel demand, cities from Manila to Melbourne are tightening lockdowns to battle new infections, while Norway has stopped cruise ship traffic in the latest European travel alarm.
The company has a stated plan of scaling up its capacity to 10 gigawatts in the next 3-5 years from 4,559 mw now. While the capacity addition plan does not change, the company will now focus on renewable energy projects to add renewable energy projects.
Indian Oil Corporation Ltd., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 81667.83 Crore) operating in Gas & Petroleum sector.
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